Starting Accumulation vs Primitive Accumulation

Abstract

Marx handed over the tradition of understanding primitive accumulation as a single act of creation of capitalism; not as the first technological leap, which was industrialisation, out of the sequence of further leaps. Consequently, scholars, studying joint features of initial industrialisation in different countries, do not always notice that those features had many similarities with modern technological revolutions, too, and that it is the key to better understanding modern crises. While considering all this, we should clearly distinguish the two sides of accumulation: physical accumulation of physical capital and accumulation of money to finance this.